Question

1
If Mahesh deposits Rs 25000 in the Bank at 9
p. c.p.a for 2 years, what is the tolal amount he will
get​

Answer 1

Given:

• Mahesh deposits Rs 25000 in the Bank at 9% compounded annually for 2 years

To Find:

• The amount he gets back from the bank

Solution:

Here,

• Principal ( P ) = Rs 25000
• Rate of interest ( R ) = 9%
• Time ( N ) = 2 years

We know,

$\: \: \: \: \: \: \: \: \: \: \: \: \: \: \dag \: \bigg[ \bf A = P \bigg(1 + \frac{r}{100} \bigg) {}^{n} \bigg]$

${ \underline{ \bf{ \bigstar \: Substituting \: the \: values : }}}$

${ : \implies} \bf \: A = P \bigg[ \: 1 + \frac{r}{100} \bigg] {}^{n} \: \: \: \: \: \: \: \: \: \: \: \: \: \: \\ \\ \\ { : \implies} \bf \: A = 25000 \bigg[ \: 1 + \frac{9}{100} \bigg] {}^{2} \: \: \: \: \: \\ \\ \\ { : \implies} \bf \: A = 25000 \bigg[ \: \frac{100}{100} + \frac{9}{100} \bigg] {}^{2} \\ \\ \\ { : \implies} \bf \: A = 25000 \bigg[ \: \frac{109}{100} \bigg] {}^{2} \: \: \: \: \: \: \: \: \: \: \: \: \\ \\ \\ { : \implies} \bf \: A =25000 \times \frac{109}{100} \times \frac{109}{100} \\ \\ \\ { : \implies} \bf \: A =2.5 \times 109 \times 109 \: \: \: \: \: \: \: \: \\ \\ \\ { : \implies} \bf \: A =2.5 \times 11881 \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \\ \\ \\ { : \implies} \bf \: A =Rs.29702.5 \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \:$

Hence:

• The amount received back by mahesh is Rs. 29702.5

More to know:

• Formula to find Amount when Compound half yearly

${ : \implies} \bf \: A = P \bigg[ \: 1 + \frac{r}{200} \bigg] {}^{2n}$

• Formula to find Amount when Compound quarterly

${ : \implies} \bf \: A = P \bigg[ \: 1 + \frac{r}{400} \bigg] {}^{3n}$

• Formula to find Amount at different rate of interests

${ : \implies} \bf \: A = P \bigg[ \: 1 + \frac{r _{1} }{100} \bigg] \bigg[1 + \frac{r _{2}}{100} \bigg] \bigg[ \: 1 + \frac{r _{3}}{100} \bigg]$

Answer 2

Given :

• Principal (P) = Rs 25000
• Time (n) = 2 years
• Rate (R) = 9% per annum

To Find :

• Amount

Formulas :

$\red \bigstar \: {\underline{\boxed{\mathcal {\pmb{\quad Amount \: = \: Principal \: \times \bigg(\:1 \: + \: \dfrac{Rate}{100}\bigg)^{n}\quad}}}}}$

Solution :

${:} \longrightarrow \sf \: Amount \: = \: Principal \: \times \bigg(\:1 \: + \: \dfrac{Rate}{100}\bigg)^{n}$

${:} \longrightarrow \sf \: Amount \: = \: 25000 \: \times \bigg(\:1 \: + \: \dfrac{9}{100}\bigg)^{2}$

${:} \longrightarrow \sf \: Amount \: = \: 25000 \: \times \bigg(\dfrac{109}{100}\bigg)^{2}$

${:} \longrightarrow \sf \: Amount \: = \: 25000\: \times \: \dfrac{109}{100} \: \times \: \dfrac{109}{100}$

${:} \longrightarrow \sf \: Amount \: = \: 25 \cancel{000} \: \times \: \dfrac{109}{1 \cancel{00}} \: \times \: \dfrac{109}{10 \cancel{0}}$

${:} \longrightarrow \sf \: Amount \: = \: \dfrac{25 \: \times \: 109 \: \times \: 109}{10}$

${:} \longrightarrow \sf \: Amount \: = \: \dfrac{2725 \: \times \: 109}{10}$

${:} \longrightarrow \sf \: Amount \: = \: \dfrac{297025}{10}$

${:} \longrightarrow {\underline{\boxed {\mathcal{\pmb{\quad Amount \: = \: Rs \: 29702.5 \quad}}}}}$

Thus He will get Rs 29702.5 after 9 years.

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